Finance & Insurance

AFG Cos. was unprepared for a ransomware attack last summer, for months had been unsure of the extent of the breach, and as of early this month hadn't alerted automaker partners or the agents selling its coverage to dealerships, a whistleblower alleges.

The decision to nix the end-of-summer event in 2024 comes just two years after the Traverse City, Mich.-based specialty auto insurance company moved it to the city of Detroit in a bid to revive it.

With the help of AI, automotive finance and lease businesses are already streamlining processes, improving customer experience and detecting fraud.

Following Wednesday's Fed meeting, the benchmark rate will remain at the 5.25-5.5 percent level.